NY-IFF
31.5.2023 22:16:35 CEST | Business Wire | Press release
IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry.
Under PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria.
“The sale of IFF’s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,” said Frank Clyburn, IFF CEO. “We remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage target by the end of 2024. We’re grateful to our Savory Solutions colleagues, who have demonstrated their commitment to innovation, service and quality. We wish them the best in their new journey.”
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains “forward-looking statement” within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” “pursue,” “drive” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our deleverage target and portfolio optimization. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food and beverage, fragrance, home and personal care, and health and wellness. Innovation is at the heart of IFF’s purpose of applying science and creativity to create a better world – from global icons to unexpected experiences. We are an international collective of thinkers who develop some of the most groundbreaking products in our industry and partner with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we work to design products that offer a positive contribution to people, society and the world around us.
Learn more at iff.com, Twitter , Facebook, Instagram, and LinkedIn.
© 2023 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230531005869/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NETSCOUT Reveals Qualitative Shifts in DDoS Attack Sophistication, Infrastructure Capacity, and Threat Actor Capabilities4.3.2026 12:05:00 CET | Press release
AI Adoption, coordinated botnets, and persistent hacktivists groups drove millions of attacks NETSCOUT® SYSTEMS, INC. (NASDAQ: NTCT), today released its second half of the year 2025 Distributed Denial-of-Service (DDoS) Threat Intelligence Report, revealing sophisticated attacker collaboration, resilient botnets, and compromised IoT infrastructure that drove more than eight million DDoS attacks worldwide – some as large as 30 terabits per second (Tbps) – marking a new era of hyper-scale, coordinated threat activity that continues to outpace global takedown efforts. Meanwhile, the accelerating growth of DDoS-for-hire services is empowering a broader range of threat actors, intensifying operational risk to digitally connected organizations and enterprises. Implications for security professionals extend far beyond volumetric concerns and include reconnaissance and adaptive evasion which challenge traditional defense paradigms. Organizations must match adversarial innovation with intelligen
WHOOP Announces 2026 Hiring Surge, Adding More Than 600 Roles as It Scales Wearable Health Platform Globally4.3.2026 12:00:00 CET | Press release
Expansion Signals Acceleration in AI, Clinical Innovation, and International Growth WHOOP, the human performance company, today announced plans to add more than 600 new roles across Software, Research & Design, Hardware, Product, and Marketing as the company continues to scale globally. The hiring expansion reflects a clear strategic priority: bolstering a team that will define the future of human performance and health technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304866977/en/ WHOOP Announces 2026 Hiring Surge, Adding More Than 600 Roles as It Scales Wearable Health Platform Globally “Right now, companies are debating whether to hire more people or just invest in AI,” said Will Ahmed, Founder and CEO of WHOOP. “We are doing both. We are doubling down on exceptional talent and doubling down on world-class AI tools because the combination is what wins. Health monitoring is becoming one of the most important p
Radian Arc, VNPT and Blacknut Launch GPU Infrastructure in Vietnam, Enabling Cloud Gaming and AI Services4.3.2026 11:00:00 CET | Press release
Radian Arc, part of inferX, Submer’s AI cloud and GPU infrastructure platform has partnered with VNPT, and COMIT, to launch Cloud Gaming powered by Radian Arc’s GPU Edge Platform and Blacknut’s global cloud gaming service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260303986657/en/ Radian Arc, VNPT and Blacknut Launch GPU infrastructure in Vietnam, enabling cloud gaming and AI services This deployment expands Radian Arc and Blacknut’s global cloud gaming partnership into the Vietnam market with VNPT and lays the foundation for future AI-native services and sovereign infrastructure together with COMIT. The deployment represents a commercial proof point of Radian Arc’s carrier-embedded GPU model, combining monetizable consumer services today with scalable AI infrastructure that can support sovereign AI workloads. “With VNPT’s market reach and Blacknut’s premium gaming catalog we’re bringing the next generation of interacti
Hermes Reply Partners with Lavazza to Develop a New Digital and Efficient Manufacturing Model4.3.2026 10:45:00 CET | Press release
An integrated, data-driven platform powered by AI and Computer Vision to enhance quality, efficiency and traceability across production processes Hermes Reply, the Reply Group company specialising in digital transformation for manufacturing and supply chain, has partnered with Lavazza Group in the design and implementation of a new digital and efficient manufacturing model, aimed at strengthening operational capabilities, ensuring high quality standards and supporting the company’s industrial development strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304639969/en/ Artificial Intelligence and Computer Vision technologies play a key role in making quality controls and production process analysis along packaging lines more intelligent and flexible. Through advanced image analysis and anomaly detection systems, overall process quality becomes more efficient and adaptable. The initiative, entitled “A new digital and
OPEX® Corporation to Exhibit Advanced Warehouse Automation Solutions at LogiMAT 20264.3.2026 09:00:00 CET | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, will exhibit its latest advancements in warehouse automation at LogiMAT 2026. The world’s largest trade show for intralogistics solutions and process management, LogiMAT will be held March 24 through 26 at the Stuttgart Trade Fair Center in Germany. “Our team looks forward to being onsite at LogiMAT and showcasing several of our leading warehouse automation solutions,” said Alex Stevens, President, Warehouse Automation, OPEX. “We’re proud to deliver cutting-edge systems that help our clients transform how they conduct business, and we appreciate the vast opportunity LogiMAT provides to share our offerings and expertise with event attendees.” At LogiMAT Hall 5 ‒ Stand B25, OPEX will demonstrate Sure Sort® X with Xtract, its award-winning, automated pack-out and order takeaway system. The OPEX Booth will also feature a static display of the company’
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom